UnitedHealth bought pharmacy company Avella to build Optum unit
(Bloomberg) -- UnitedHealth bought Avella Specialty Pharmacy last quarter, a previously undisclosed deal by the health-services giant that will further boost its already-growing pharmacy offerings.
Financial terms of the deal weren’t disclosed, and UnitedHealth declined to provide any further details about the takeover, which was identified in the company’s third-quarter earnings press release on Tuesday.
“The combination of OptumRx and Avella will improve specialty-pharmacy care services and health outcomes for consumers, while helping reduce overall healthcare costs,” Optum spokesman Matt Stearns said in an email.
The Avella acquisition came in the same quarter that UnitedHealth purchased Genoa Healthcare, a behavioral health pharmacy chain, for about $2.5 billion. The expansions contributed to accelerating revenue growth in the company’s OptumRx pharmacy segment, which reported sales of $17.4 billion in the third quarter, up 9.3% from the previous year.